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The Silicon Valley Bank Collapse
Down to Business English
The Failure of SVB and Signature Bank of New York
On March 15th, Credit Suisse, the 167-year-old Swiss bank was teetering on the edge of failure. That spread fast. The FDIC also made the decision to increase the deposit to insurance from $250,000 to 100% of the deposit. They had to act fast in order to calm or keep the markets calm because another bank, Signature Bank of New York, was closed down by regulators.
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